People & Lifestyle

Performance Management Systems: Catalysts for Continuous Improvement II

Published

3 weeks ago

April 9, 2024

Ameyaw Debrah

Eid Mubarak to all champions of the Islamic faith.

Last week, we commenced a 5-part series on one of our highly recommended strategies for driving a culture of peak performance – The Evolution of Performance and Impact Measurement. We started by looking at how performance management systems are a catalyst for continuous growth and we will share 3 more values leaders can obtain by implementing an effective performance management system.

C. Closing The Skills Gap

As it’s usually the case, it takes a blend of human and material resources to produce any kind of utility in the workplace. A performance management system doesn’t just identify those really putting in the work and those that aren’t, it also identifies why that disparity exists. More often than not, it’s not necessarily laziness that causes people to be unproductive, it is incompetence. If people know better, they would generally do better. This means that with the right skills, those employees that are not so productive can become productive. Thus managers or management could identify these causalities and upskill those that are lagging behind. A skillset gap is why a group of people are given the same opportunities, resources and timeline but they produce varying degrees of results. Thus, custom training is developed to address thus challenges instead of a generic dissemination of information. What great training does it to help employees in the workplace tie their output directly to the corporate goals of an organization.

For example, at a printing press, one worker may deliver higher results owing to a much better mastery of the machines or a particular machine. The other variables are the same for others but owing to self-development, a skilled worker shows that his productivity is directly correlated to his skillset more than it is to machinery and other factors. That data point can be extrapolated from a performance management system which will inform decision-makers at any such organization that a training or learning program must necessarily come into play to counter the lapses identified by a performance management system.

D. Reduction In Employee Turnover And Hiring Costs

A performance management system provides an objective and scientific evidence about that state of affairs in any organization. In its absence, there would be arbitrary termination of employment and impulsive new hires without a proper interrogation or diagnosis of the challenges. It costs organizations a lot to both fire or hire staff members. When an old staff is being fired, the associated costs are just the several package but also the sunk cost of institutional knowledge or experience the person is leaving with. The same thing applies when hiring new staff members, it’s not just an addition of one more person to the payroll, the cost of training and orientation is part of the hiring costs. Not everyone understands or knowledge how to play office politics, some people depend a lot on their results to do the speaking and lobbying for them especially when an appraisal is around the corner. A performance management system helps an organization avoid costly mistakes.

Boeing is one of the biggest manufacturers of aeroplanes in the world, however, it has suffered a string of unfortunate events such as plane crashes and which has seen their stock prices dip. It is very unlikely that it didn’t have a performance management system, it would be more appropriate to say that they didn’t pay much attention to it. What happened was that it took a whistle-blower to call out the fact that quality control was not followed to the highest standards. ¹Ed Pierson worked at Boeing for over ten years where he witnessed, “overworked employees, parts shortages, and quality issues”, which he said made the planes produced by the factory unsafe.

E. It Helps To Build Leadership Capacities

One major reason some leaders relegate leadership development is because they don’t measure the ROI on such investment. A performance management system by default develops employees to assume responsibilities and build leadership capacities. When a person knows what has to be done per time and the consequences of both doing and not doing such, there is an attitude that is developed. This reduces micromanagement because employees are self-motivated to do the right things anyways. It reduces the tensions that exists between supervisors and their supervisees because there is a leeway for creativity isn’t of monotonous work. Whilst quality control is important, the more an employee can work without supervision, the more valuable he or she becomes because that expertise frees up the human and material resources that would have been allocated to superintending over others.

A leadership spirit is developed when an employee takes full responsibility for his or her job; it makes people do things without being prompted. The leadership cycle moves a person from being dependent, to being independent to being inter-dependent – then back to being dependent. Newer levels of creativity are unlocked when employees are encouraged to bring their ideas to play and collaborate with employees instead of just waiting for an instruction from higher-ups before acting. The more this happens throughout an organization, the better it shapes a new generation of leaders.

¹https://africa.businessinsider.com/transportation/a-boeing-whistleblower-says-he-got-off-a-plane-just-before-takeoff-when-he-realized/7g7nssq

Growth Opportunities

To further position your leaders for peak performance, you can download a free copy of the latest edition of The Peak Performer Magazine at www.thepeakperformer.africa You can also enroll your Mid-level Leadership Team for the Made4More Accelerator Program https://abiolachamp.com/m4m-accelerator and your Senior Leadership Team for the Dr. Abiola Salami International Leadership Bootcamp MOMBASA 2024 https://abiolachamp.com/international-bootcamp/ We also have an upcoming training for leaders in public service www.abiolachamp.com/depips/

About Dr. Abiola Salami

Dr. Abiola Salami is the Convener of Dr Abiola Salami International Leadership Bootcamp and The Peak Performer^TM. He is the Principal Performance Strategist at CHAMP – a full scale professional services firm trusted by high performing business leaders for providing Executive Coaching, Workforce Development & Advisory Services to improve performance. You can reach his team on hello@abiolachamp.com and connect with him @abiolachamp on all social media.

People & Lifestyle

Mr Elton Afari joins EU Ambassador H.E Irchad Razaaly, Reiss & Co. CEO, Jeff Sowah, others at Entrepreneurship with Bola Ray

Published

8 mins ago

April 30, 2024

VJ Scaro

Chief Executive Officer of Equity Health Insurance, Elton Fedrick Afari has been honored together with other mentors at the prestigious ‘Entrepreneurship with Bola Ray’ closing event. (more…)

People & Lifestyle

Glovo closes its operations in Ghana

Published

3 hours ago

April 30, 2024

Ameyaw Debrah

Glovo, the multi-category platform which has been operating in Ghana since 2021, announces that it will cease its operations in the country effective May 10th, 2024.

“Following a reassessment of the company’s investment priorities, Glovo has decided to cease operations in Ghana by May 10, 2024. Glovo will focus on growing and strengthening its position in other African countries. We thank our teams, partners and riders in the country for the dedication to growing Glovo in Ghana over the last years.” said Dima Rasnovsky, Regional General Manager Glovo Africa

To the local team, Glovo is committed to offer severance pay that exceeds the legislative minimum. All couriers, partners, and customers will be informed about the closing and receive relevant communication from Glovo.

Africa is one of the key regions for Glovo operating in Ivory Coast, Kenya, Morocco, Nigeria, Tunisia, and Uganda. The company remains committed to its operations in the remaining countries where it currently operates and believes that this decision will strengthen the platform’s position in the other markets.

Glovo is a pioneering multi-category app connecting users with businesses, and couriers, offering on-demand services from local restaurants, grocers and supermarkets, and high street retail stores. Founded in 2015 in Barcelona, it operates across 23 countries in Europe, Central Asia and Africa.

People & Lifestyle

Why Visiting a Physiotherapist Is Not an Alternative but a Necessity?

Published

17 hours ago

April 29, 2024

Ameyaw Debrah

Most of us are unaware we must visit a physiotherapist for proper healing. When we sustain an injury, we see a doctor for treatment. We expect he will recommend medicine and some exercises to relieve the pain. But at times, that may not be enough. You may need to visit a physiotherapist for your injury and pain. If you are not sure whether to see a physiotherapist or not, then look out for the below symptoms so that it becomes easier for you to take the call:

You are experiencing a recurrent injury.
Your overall mobility has gone down over the years.
You are suffering from arthritis or osteoarthritis.
You are at a risk of developing neck and lower back pain.

If you are experiencing any of these symptoms, you should book your appointment with a reliable physiotherapist immediately. Find out what the leading Brampton physiotherapists are. You can ask your friends and colleagues to recommend one or search online to find out who the most sought-after physiotherapists in your region are.

Why visit a physiotherapist at the earliest?

Physiotherapists are trained medical practitioners who can help improve your posture, physical health and overall fitness. Don’t you want to play your favourite sport without the fear of affecting your physical fitness? If yes, eliminate that nagging pain and improve your health immediately. Physiotherapists are experts at injury assessment, treatment, and management.

• Recurrent injury: If you repeatedly deal with the same injury, you should visit the physiotherapist as soon as possible. Let him assess the injury and suggest a treatment that will help to identify the underlying cause and help you recover from it as well. It would help if you got expert medical advice at the right time so that the pain you are experiencing today becomes a problem of yesterday.

• Your injury keeps you from exercising: If you cannot exercise because of the pain, you should visit the physiotherapist immediately. You must address the pain immediately so your health improves and you can exercise daily. Anything stopping you from carrying out your daily activities should be addressed. If you ignore them now, your health will deteriorate in the long run. There is nothing much that you can do.

• Long-term ailments like arthritis or osteoarthritis require proper medical attention and care: Joint replacement is not always the solution to arthritis. If you book a session with the physiotherapist at the right time, you can better deal with the pain. Regular physiotherapy sessions will increase your mobility and flexibility; even before you know it, the pain will have subsided. For strong muscles and better flexibility, physiotherapy is quite effective.

• Suffering from work-related injury: If your job requires you to stand for long hours or sit before the computer for 8 to 10 hours daily, you will be at risk of certain types of injury. You will find that neck and shoulder pain has become a part of your life. Lower back pain is not far away. The only way to deal with these pains is through regular sessions at a Brampton physical therapy clinic.

Summing it up:

When you visit a physiotherapist, he will conduct an in-depth assessment to understand your problems better. He will carry out a detailed check-up before recommending treatment. You must clearly explain the situation you are experiencing so that he can address the issue correctly. Answer all the questions transparently. If both of you agree, it will be easier to suggest the proper treatment. What are you waiting for? Go ahead and book your session with a leading physiotherapist right away.

Brampton physical therapy clinic

People & Lifestyle

Vivian Boateng Receives Franchisee Award of the Year at 2024 CrEd Connect in Kenya

Published

18 hours ago

April 29, 2024

Ameyaw Debrah

Vivian Boateng, the esteemed Founder and CEO of Vivies Dance and Theatre Academy and Head of Creative Education International (CrEd) in Accra, was honored with the prestigious franchisee award of the year at the 2024 CrEd Connect event held in Kenya on Saturday, 27th April.

Vivian Boateng’s dedication to advocating for personal development through dance and theatre for children and young people over the past decade has been recognized on a global scale. Her Theatre and Dance Academy has been a beacon of empowerment, having trained thousands of young individuals in schools and at her academy. Through her programs, she has instilled essential 21st-century skills such as confidence building, critical thinking, communication, collaboration, and creativity in her students.

The 2024 CrEd Connect event brought together CrEd Directors, Heads and trainers from South Africa, Kenya, India, Morocco, Ireland and Nigeria to celebrate and discuss the partnership between Creative Education International and Trinity College London. CrEd International remains at the forefront of creative arts education in Africa, offering innovative programs and resources aimed at unlocking the creative potential of students across the continent.

Trinity College London, an esteemed international exam board with a legacy dating back to 1870, focuses on assessments in music, drama, English language, and more. The collaboration between Creative Education International and Trinity College London signifies a shared commitment to helping students worldwide achieve their full potential through creative arts education.

Vivian Boateng’s recognition as the franchisee award recipient of the year is a testament to her unwavering dedication to nurturing talent and fostering personal growth through the arts. Her impact extends beyond borders, inspiring a new generation of creative thinkers and performers to realize their dreams.

People & Lifestyle

First Atlantic Bank is Digital Bank of the Year

Published

20 hours ago

April 29, 2024

Ameyaw Debrah

First Atlantic Bank Limited has solidified its position as a frontrunner in Ghana’s banking sector, earning the prestigious title of Digital Bank of the Year at the recent Ghana Fintech Awards 2023 in Accra. The bank’s commitment to digital innovation and its outstanding performance in a competitive market were recognized by industry experts and stakeholders. In addition to the top honor, First Atlantic Bank was also presented with the Banking Innovative Product of the Year (SME/Corporate) award for its Corporate Pay solution. These accolades underscore the institution’s dedication to delivering cutting-edge banking solutions tailored to the needs of its diverse customer base.

The recognition comes amidst a period of sustained financial growth for First Atlantic Bank. In a noteworthy financial achievement, First Atlantic Bank, one (1) of the five (5) profitable banks in 2022, surged ahead in 2023 with a remarkable GH¢323 million profit before tax, showcasing an impressive 1373% increase from the prior year. This impressive performance is attributed to robust operating income, which soared from GH¢0.52 billion in 2022 to GH¢1.04 billion in 2023, reflecting a significant expansion in the bank’s revenue streams.

Key drivers of the bank’s financial success include a strategic focus on lowering the cost of funding, which contributed to a Net Interest Income of GH¢663 million, representing a 61% year-on-year increase. Moreover, the bank’s Net Commission and Fees reached GH¢124 million, a notable 30% rise from the previous year.

First Atlantic Bank’s strong financial performance is further underscored by its robust balance sheet, posting an increase in shareholders fund of 1.26 billion cedis in 2023. This is an increase of 30% from 969 million cedis in 2022, reaffirming the institution’s financial stability and resilience.

The accolades received by First Atlantic Bank extend beyond the national stage, with the institution recently earning recognition as the Best Prepaid Card Bank in Ghana by Onafriq, a leading pan-African payments company. This acknowledgment highlights the bank’s efforts to promote financial inclusion and gender equality through innovative digital payment solutions.

Commenting on the achievements, a spokesperson for First Atlantic Bank emphasized the institution’s unwavering commitment to driving digital transformation and delivering superior banking experiences to its customers. “These accolades reaffirm our position as a leader in digital banking and underscore our dedication to innovation, financial excellence, and customer-centricity,” the spokesperson stated.

As First Atlantic Bank continues to chart a course of innovation and growth, it remains poised to redefine the banking landscape in Ghana and beyond, setting new standards for excellence and customer satisfaction in the digital era.